Real Madrid returns to the spotlight and wins the semi-final in extra time
Resurrection
The 2021-22 season marks a surprising resurgence for Spanish football, highlighting the strength of the mainland at a time when financial gaps with the English Premier League grew wider. Aggressive spending in the PSG market and the robust economic foundations of various leagues left La Liga in a more cautious position. Yet Real Madrid and Villarreal remained among Europe’s elite, demonstrating that competitiveness can endure even as fortunes shift.
Villarreal led the drama, eliminating Bayern and advancing to the semis
Both clubs endured significant challenges to reach the penultimate stage. Real Madrid saw a first-leg lead at Stamford Bridge slip away, forcing extra time and eventually prevailing over the reigning champions Chelsea. Villarreal, defending a 1-0 advantage from the initial leg, felt the pressure when a late goal changed the momentum; Robert Lewandowski’s impact was evident, but Samuel Chukwueze helped sustain the tie at a crucial moment.
Real Madrid stretched its semi-final appearances to ten in the last twelve years, a remarkable milestone for the club. For Villarreal, it marked a second journey to that stage, echoing the 2006 moment when Román Riquelme’s missed penalty kept Arsenal in contention. Atlético Madrid’s defeat to Manchester City on the same night dimmed hopes of three Spanish sides reaching the semi-finals for a rare third time in history, a feat last seen in 1999-00 when Madrid, Barcelona, and Valencia advanced together.
Atlético gave its all but fell short; City advances to the semi-finals
Across the broader landscape, the semi-finals underscored a prevailing trend in European football: a continent-wide tilt toward English clubs. Real Madrid and Manchester City chased a spot in the final in Saint-Denis on May 28, while Liverpool and Villarreal faced the other half of the bracket. The season also highlighted a cost-conscious approach in La Liga. A leading Spanish newspaper noted that La Liga invested the least in new signings since the pandemic began, trailing behind the Premier League, Serie A, the Bundesliga, and Ligue 1. The investment gap to British clubs remained pronounced, with English teams spending roughly four times more in the past two years than their Spanish counterparts. Even outside the quarterfinals, the purchasing power of rivals continued to shape the pursuit of Europe’s top prize, the coveted Champions League trophy, which has not been lifted by a Spanish club since Inter in 2010.
The analysis of the two remaining semi-final ties clarifies the investment disparity between Spanish and English clubs. In Madrid, the club invested about 1.073 billion euros over six years to strengthen its squad, compared with roughly 618 million euros for Real Madrid itself. The last two campaigns showed an even starker split: about 31 million more spent by Madrid, versus around 306 million by Manchester City.
In the other semi-final matches, disparities widened given squad sizes. Liverpool allocated around 613 million euros in the same period for reinforcements, while Villarreal spent about 328 million, nearly half as much. Market dynamics continue to reveal a size gap between Spanish and English clubs, even as Madrid works to rebuild financial strength. Of course, Madrid’s spending cannot compare to the astronomical numbers posted by PSG or the substantial investments observed in other leagues, and not every rival hit the mark in this campaign.